
India - Jewelry - Market Analysis, Forecast, Size, Trends and Insights
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View PricingIndia's Jewelry Exports Surge to a Record $13.9 Billion in 2023
India Jewelry Exports
In 2023, after two years of growth, there was significant decline in shipments abroad of jewelry, when their volume decreased by -20% to 389 tons. In general, exports saw a pronounced descent. The most prominent rate of growth was recorded in 2022 when exports increased by 53%. Over the period under review, the exports hit record highs at 700 tons in 2019; however, from 2020 to 2023, the exports failed to regain momentum.
In value terms, jewelry exports expanded rapidly to $13.9B (IndexBox estimates) in 2023. Over the period under review, exports, however, saw a resilient increase. The most prominent rate of growth was recorded in 2016 with an increase of 77% against the previous year. The exports peaked in 2023 and are likely to continue growth in the immediate term.
COUNTRY | Export Value of Jewelry in India (billion USD) | ||||||||||
---|---|---|---|---|---|---|---|---|---|---|---|
2013 | 2014 | 2015 | 2016 | 2017 | 2018 | 2019 | 2020 | 2021 | 2022 | 2023 | |
United Arab Emirates | 3.4 | 3.8 | 2.5 | 6.1 | 5.7 | 7.7 | 8.3 | 2.3 | 2.7 | 3.1 | 5.2 |
United States | 1.1 | 1.2 | 1.3 | 1.9 | 1.9 | 1.9 | 2.0 | 1.7 | 3.6 | 3.4 | 3.3 |
Hong Kong | 0.9 | 1.8 | 1.7 | 2.3 | 2.3 | 1.1 | 1.4 | 1.7 | 2.1 | 3.1 | 2.6 |
Singapore | 0.2 | 0.2 | 0.1 | 0.2 | 0.2 | 0.4 | 0.4 | 0.2 | 0.5 | 0.7 | 0.5 |
United Kingdom | 0.2 | 0.2 | 0.2 | 0.3 | 0.3 | 0.5 | 0.3 | 0.2 | 0.4 | 0.4 | 0.4 |
Others | 0.6 | 1.0 | 0.6 | 0.6 | 0.7 | 0.9 | 1.0 | 0.9 | 1.4 | 1.9 | 1.8 |
Total | 6.3 | 8.2 | 6.5 | 11.5 | 11.0 | 12.5 | 13.4 | 7.0 | 10.7 | 12.7 | 13.9 |
Exports by Country
the United States (152 tons) was the main destination for jewelry exports from India, accounting for a 39% share of total exports. Moreover, jewelry exports to the United States exceeded the volume sent to the second major destination, the United Arab Emirates (45 tons), threefold. The third position in this ranking was held by Hong Kong (42 tons), with an 11% share.
From 2013 to 2023, the average annual growth rate of volume to the United States stood at -4.6%. Exports to the other major destinations recorded the following average annual rates of exports growth: the United Arab Emirates (-11.3% per year) and Hong Kong (+7.4% per year).
In value terms, the largest markets for jewelry exported from India were the United Arab Emirates ($5.2B), the United States ($3.3B) and Hong Kong ($2.6B), together accounting for 81% of total exports.
Hong Kong, with a CAGR of +11.5%, saw the highest rates of growth with regard to the value of exports, among the main countries of destination over the period under review, while shipments for the other leaders experienced more modest paces of growth.
Exports by Type
Silver jewelry (294 tons) was the largest type of jewelry exported from India, with a 76% share of total exports. Moreover, silver jewelry exceeded the volume of the second product type, non-silver precious metal jewelry (69 tons), fourfold. The third position in this ranking was taken by silver goldsmiths non-jewelry articles (15 tons), with a 4% share.
From 2013 to 2023, the average annual rate of growth in terms of the volume of silver jewelry exports amounted to -1.9%. With regard to the other exported products, the following average annual rates of growth were recorded: non-silver precious metal jewelry (-9.4% per year) and silver goldsmiths non-jewelry articles (-1.5% per year).
In value terms, non-silver precious metal jewelry ($11B) remains the largest type of jewelry exported from India, comprising 79% of total exports. The second position in the ranking was held by silver jewelry ($2.8B), with a 20% share of total exports. It was followed by non-silver precious metal non-jewelry articles, with a 0.3% share.
From 2013 to 2023, the average annual rate of growth in terms of the value of non-silver precious metal jewelry exports totaled +7.5%. With regard to the other exported products, the following average annual rates of growth were recorded: silver jewelry (+12.3% per year) and non-silver precious metal non-jewelry articles (-10.2% per year).
Export Prices by Country
In 2023, the jewelry price amounted to $35,794,894 per ton (FOB, India), with an increase of 37% against the previous year. Over the period under review, the export price saw a prominent increase. The most prominent rate of growth was recorded in 2016 an increase of 74% against the previous year. The export price peaked in 2023 and is expected to retain growth in the immediate term.
There were significant differences in the average prices for the major export markets. In 2023, amid the top suppliers, the country with the highest price was the United Arab Emirates ($115,760,443 per ton), while the average price for exports to Thailand ($4,371,142 per ton) was amongst the lowest.
From 2013 to 2023, the most notable rate of growth in terms of prices was recorded for supplies to the United Arab Emirates (+17.7%), while the prices for the other major destinations experienced more modest paces of growth.
This report provides an in-depth analysis of the jewelry market in India. Within it, you will discover the latest data on market trends and opportunities by country, consumption, production and price developments, as well as the global trade (imports and exports). The forecast exhibits the market prospects through 2030.
Product coverage:
- Prodcom 32121330 - Articles of jewellery and parts thereof of precious metal (including plated, clad)
- Prodcom 32121351 - Articles of goldsmiths
- Prodcom 32121353 - Articles of goldsmiths
- Prodcom 32121355 - Articles of goldsmiths
Country coverage:
- India
Data coverage:
- Market volume and value
- Per Capita consumption
- Forecast of the market dynamics in the medium term
- Trade (exports and imports) in India
- Export and import prices
- Market trends, drivers and restraints
- Key market players and their profiles
Reasons to buy this report:
- Take advantage of the latest data
- Find deeper insights into current market developments
- Discover vital success factors affecting the market
This report is designed for manufacturers, distributors, importers, and wholesalers, as well as for investors, consultants and advisors.
In this report, you can find information that helps you to make informed decisions on the following issues:
- How to diversify your business and benefit from new market opportunities
- How to load your idle production capacity
- How to boost your sales on overseas markets
- How to increase your profit margins
- How to make your supply chain more sustainable
- How to reduce your production and supply chain costs
- How to outsource production to other countries
- How to prepare your business for global expansion
While doing this research, we combine the accumulated expertise of our analysts and the capabilities of artificial intelligence. The AI-based platform, developed by our data scientists, constitutes the key working tool for business analysts, empowering them to discover deep insights and ideas from the marketing data.
1. INTRODUCTION
Making Data-Driven Decisions to Grow Your Business
- REPORT DESCRIPTION
- RESEARCH METHODOLOGY AND THE AI PLATFORM
- DATA-DRIVEN DECISIONS FOR YOUR BUSINESS
- GLOSSARY AND SPECIFIC TERMS
2. EXECUTIVE SUMMARY
A Quick Overview of Market Performance
- KEY FINDINGS
- MARKET TRENDSThis Chapter is Available Only for the Professional EditionPRO
3. MARKET OVERVIEW
Understanding the Current State of The Market and its Prospects
- MARKET SIZE: HISTORICAL DATA (2012–2024) AND FORECAST (2025–2035)
- MARKET STRUCTURE: HISTORICAL DATA (2012–2024) AND FORECAST (2025–2035)
- TRADE BALANCE: HISTORICAL DATA (2012–2024) AND FORECAST (2025–2035)
- PER CAPITA CONSUMPTION: HISTORICAL DATA (2012–2024) AND FORECAST (2025–2035)
- MARKET FORECAST TO 2035
4. MOST PROMISING PRODUCTS FOR DIVERSIFICATION
Finding New Products to Diversify Your Business
- TOP PRODUCTS TO DIVERSIFY YOUR BUSINESS
- BEST-SELLING PRODUCTS
- MOST CONSUMED PRODUCTS
- MOST TRADED PRODUCTS
- MOST PROFITABLE PRODUCTS FOR EXPORTS
5. MOST PROMISING SUPPLYING COUNTRIES
Choosing the Best Countries to Establish Your Sustainable Supply Chain
- TOP COUNTRIES TO SOURCE YOUR PRODUCT
- TOP PRODUCING COUNTRIES
- TOP EXPORTING COUNTRIES
- LOW-COST EXPORTING COUNTRIES
6. MOST PROMISING OVERSEAS MARKETS
Choosing the Best Countries to Boost Your Export
- TOP OVERSEAS MARKETS FOR EXPORTING YOUR PRODUCT
- TOP CONSUMING MARKETS
- UNSATURATED MARKETS
- TOP IMPORTING MARKETS
- MOST PROFITABLE MARKETS
7. PRODUCTION
The Latest Trends and Insights into The Industry
- PRODUCTION VOLUME AND VALUE: HISTORICAL DATA (2012–2024) AND FORECAST (2025–2035)
8. IMPORTS
The Largest Import Supplying Countries
- IMPORTS: HISTORICAL DATA (2012–2024) AND FORECAST (2025–2035)
- IMPORTS BY COUNTRY: HISTORICAL DATA (2012–2024)
- IMPORT PRICES BY COUNTRY: HISTORICAL DATA (2012–2024)
9. EXPORTS
The Largest Destinations for Exports
- EXPORTS: HISTORICAL DATA (2012–2024) AND FORECAST (2025–2035)
- EXPORTS BY COUNTRY: HISTORICAL DATA (2012–2024)
- EXPORT PRICES BY COUNTRY: HISTORICAL DATA (2012–2024)
10. PROFILES OF MAJOR PRODUCERS
The Largest Producers on The Market and Their Profiles
LIST OF TABLES
- Key Findings In 2024
- Market Volume, In Physical Terms: Historical Data (2012–2024) and Forecast (2025–2035)
- Market Value: Historical Data (2012–2024) and Forecast (2025–2035)
- Per Capita Consumption: Historical Data (2012–2024) and Forecast (2025–2035)
- Imports, In Physical Terms, By Country, 2012–2024
- Imports, In Value Terms, By Country, 2012–2024
- Import Prices, By Country, 2012–2024
- Exports, In Physical Terms, By Country, 2012–2024
- Exports, In Value Terms, By Country, 2012–2024
- Export Prices, By Country, 2012–2024
LIST OF FIGURES
- Market Volume, In Physical Terms: Historical Data (2012–2024) and Forecast (2025–2035)
- Market Value: Historical Data (2012–2024) and Forecast (2025–2035)
- Market Structure – Domestic Supply vs. Imports, in Physical Terms: Historical Data (2012–2024) and Forecast (2025–2035)
- Market Structure – Domestic Supply vs. Imports, in Value Terms: Historical Data (2012–2024) and Forecast (2025–2035)
- Trade Balance, In Physical Terms: Historical Data (2012–2024) and Forecast (2025–2035)
- Trade Balance, In Value Terms: Historical Data (2012–2024) and Forecast (2025–2035)
- Per Capita Consumption: Historical Data (2012–2024) and Forecast (2025–2035)
- Market Volume Forecast to 2035
- Market Value Forecast to 2035
- Products: Market Size and Growth, By Type
- Products: Average Per Capita Consumption, By Type
- Products: Exports and Growth, By Type
- Products: Export Prices and Growth, By Type
- Production Volume and Growth
- Exports and Growth
- Export Prices and Growth
- Market Size and Growth
- Per Capita Consumption
- Imports and Growth
- Import Prices
- Production, In Physical Terms: Historical Data (2012–2024) and Forecast (2025–2035)
- Production, In Value Terms: Historical Data (2012–2024) and Forecast (2025–2035)
- Imports, In Physical Terms: Historical Data (2012–2024) and Forecast (2025–2035)
- Imports, In Value Terms: Historical Data (2012–2024) and Forecast (2025–2035)
- Imports, In Physical Terms, By Country, 2024
- Imports, In Physical Terms, By Country, 2012–2024
- Imports, In Value Terms, By Country, 2012–2024
- Import Prices, By Country, 2012–2024
- Exports, In Physical Terms: Historical Data (2012–2024) and Forecast (2025–2035)
- Exports, In Value Terms: Historical Data (2012–2024) and Forecast (2025–2035)
- Exports, In Physical Terms, By Country, 2024
- Exports, In Physical Terms, By Country, 2012–2024
- Exports, In Value Terms, By Country, 2012–2024
- Export Prices, By Country, 2012–2024